“I am better informed about the transaction as a result of the meeting, but my concern about the fate of the Los Angeles Times was not alleviated," Waxman said in a statement. He said Tribune “stressed their view that the company is acting in the best interest of its shareholders.”

Tribune said in a statement that they "share the Congressman's commitment" to the L.A. Times. The company said the spin-off, called Tribune Publishing, "is on strong financial footing and well-positioned for continued success as a stand-alone business."

A spokesman for the Tribune confirmed that Liguori would be willing to meet with Waxman.

Previously in The Breakdown

The Breakdown explains what's behind Southern California business and economic news. It describes the effects the headlines have on you: whether you're an investor, a business owner, an employee, homeowner, consumer or just someone who wants to know how to save a buck.